The markets are showing strong signs in early Thursday trading, as all three major indexes are up by at least 0.32% this morning. Among the stocks that are making headlines today are Alphabet Inc (NASDAQ:GOOGL), WhiteWave Foods Co (NYSE:WWAV), Western Digital Corp (NASDAQ:WDC), Chemours Co (NYSE:CC), and E I Du Pont De Nemours And Co (NYSE:DD). Let’s take a closer look at what has investors ruminating on these stocks this morning and see how the elite funds tracked by Insider Monkey are positioned.
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Alphabet Not Giving Up on Devices
Although it makes the majority of its profit and cash flow from search, Alphabet Inc (NASDAQ:GOOGL) isn’t giving up on hardware devices. According to the Android Police, Alphabet is building two Android Wear smartwatches, with the code names Angelfish and Swordfish. The smartwatches will heavily feature Google’s AI assistant technology as a differentiating trait and the two products are expected to launch when Alphabet launches its newest Nexus smartphone. Of the 766 elite funds that we track, 155 investors had long positions in Alphabet’s class A shares, owning $14.98 billion worth of those shares, while 142 were long Alphabet Inc (NASDAQ:GOOGL)’s class C shares, with those holdings valued at $14.90 billion.
WhiteWave Rises on Buyout
WhiteWave Foods Co (NYSE:WWAV) shares are up by over 18% in morning trading after the world’s largest yogurt company, Danone, agreed to purchase WhiteWave for $56.25 per share in cash. The deal has a total value of around $12.5 billion when including debt. Shares of the company had rallied by over 21% year-to-date before the buyout. 32 funds in our system were poised to cash in on the deal, owning shares of WhiteWave Foods Co (NYSE:WWAV) at the end of March, up by six funds from the end of the previous quarter.
On the next page we’ll look into why Western Digital, Chemours, and Du Pont are trending on Thursday.